General Dynamics (NYSE:GD) Given New $345.00 Price Target at JPMorgan Chase & Co.

General Dynamics (NYSE:GD - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $284.00 to $345.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the aerospace company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 8.96% from the stock's current price.

A number of other brokerages also recently issued reports on GD. Argus set a $295.00 price target on shares of General Dynamics in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Wells Fargo & Company dropped their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. Finally, Susquehanna boosted their price objective on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and an average price target of $308.06.

General Dynamics Stock Performance

Shares of GD stock traded down $0.32 during trading hours on Thursday, hitting $316.62. The company's stock had a trading volume of 519,890 shares, compared to its average volume of 1,491,868. The company has a 50 day moving average of $286.29 and a 200 day moving average of $271.39. The stock has a market cap of $84.98 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics has a 12-month low of $239.20 and a 12-month high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same quarter in the prior year, the firm posted $3.26 earnings per share. General Dynamics's quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that General Dynamics will post 14.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $215,828,587.08. The trade was a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rialto Wealth Management LLC increased its holdings in shares of General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares in the last quarter. Inlight Wealth Management LLC bought a new position in shares of General Dynamics during the first quarter worth approximately $26,000. Copia Wealth Management bought a new position in shares of General Dynamics during the fourth quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Dynamics during the first quarter worth approximately $27,000. Finally, Hoey Investments Inc. bought a new position in shares of General Dynamics in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.

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